Idea Bank digitizes processes and offer

  • In Q1 2020, Idea Bank continued its recovery program, thanks to which for the fourth quarter in a row it recorded a profit at consolidated level – of PLN 1.7 million
  • On an individual basis, the Bank recorded a loss of PLN -31.6 million, which results from one-off events of PLN -32.5 million (at individual level). After excluding one-offs, the Bank recorded a profit of PLN 0.9 million
  • The Bank is actively supporting its clients in this difficult pandemic period. Credit holidays launched as early as March have already covered 7.6 thousand companies for a total amount of over PLN 800 million, and under the Polish Development Fund’s Anti-Crisis Shield, 1.8 thousand of the Bank's clients have to date benefited from subsidies and have received support totaling PLN 140 million
  • The cost reduction process is continued (cost target level is PLN 100 million year-on-year). Financing costs have fallen by 0.76 percentage points compared to April 2019
  • Idea Bank is consistently digitizing its activities – work on full mobile banking for SMEs is advanced, and migration from outlets to online channels and automation of internal processes is underway
  • The Bank is technologically well prepared for the challenges of the post-pandemic economy: nearly 92% of head office employees are working remotely permanently

“The banking sector worldwide is facing an unprecedented challenge: it must provide support to business clients that have been forced to suspend their operations en masse overnight, while bearing in mind the need to maintain their own stability so that the economic crisis does not overlap with the financial crisis. All this is happening in an extremely uncertain environment and with regulatory restrictions rooted in pre-pandemic times," says Idea Bank President, Jerzy Pruski. “Thanks to extremely difficult decisions made a year ago and the introduction of the recovery program, Idea Bank is now flexible and cost-light so it can offer the SME sector modern, cheap products. We are also technologically ready to gradually automate processes and to work remotely, which we have tested with good results in recent weeks. This is our strategic development direction.” adds Mr. Pruski

Since the very beginning of the so-called freezing of the economy, the Bank has been analyzing its clients’ needs and actively supporting them. Idea Bank was one of the first to introduce a credit holiday scheme, paving the way for entrepreneurs to postpone loan repayment instalments. This scheme is updated regularly in response to our clients' requests concerning certain specific terms and conditions for using Idea Bank financing. The Bank's clients can also take advantage of the Polish Development Fund’s Anti-Crisis Shield in the form of partially repayable subsidies, reducing the negative effects of the halting of the economic cycle.

“All these positive measures and changes are possible thanks to the extraordinary consistency with which we have introduced and continue the self-repair process. We have managed to create a healthy organization, internally well calibrated and resistant to external shocks. We are responding flexibly to economic changes. Importantly, unlike many other banks, we still have room to absorb the Monetary Policy Council interest rate cuts. I cannot say that the macroeconomic future is looking optimistic, but I can say that we are as fully prepared as possible for the current challenges.” emphasizes the Idea Bank President.

- Wszystkie te pozytywne działania i zmiany są możliwe dzięki nadzwyczajnej konsekwencji, z jaką wprowadziliśmy i kontynuujemy proces autonaprawy. Udało się nam stworzyć zdrową organizację, wewnętrznie dobrze skalibrowaną i odporną na wstrząsy zewnętrzne. Elastycznie reagujemy na zmiany koniunktury. Co istotne, w przeciwieństwie do wielu innych banków, mamy wciąż przestrzeń do absorpcji obniżek stóp procentowych przez RPP. Nie mogę powiedzieć, że przyszłość makroekonomiczna rysuje się w optymistycznych barwach, ale mogę stwierdzić, że jesteśmy w maksymalny możliwy sposób przygotowani na aktualne wyzwania – podkreśla Prezes Idea Banku.